Coinbase will be listing Dogecoin for the next six to eight weeks, the company’s CEO has announced. Interest in the meme cryptocurrency has increased, touted by Tesla CEO Elon Musk, who calls himself Dogefather.
- Brian Armstrong, CEO of Coinbase, said during the company’s earnings call Thursday that its exchange will be listing Dogecoin for the next six to eight weeks.
- In the company’s first earnings report since its direct listing on the Nasdaq in April, Coinbase reported earnings of $ 3.05 per share and revenue of $ 1.80 billion, up from $ 585 million in the previous quarter. The company’s net income for the quarter was over $ 771 million.
- Coinbase CFO Alesia Haas answered the question of whether investors should take Dogecoin seriously in an interview with Jim Cramer on CNBC Mad Money Thursday. “We leave that up to our users to decide,” she replied, explaining:
We want to offer all assets that meet our listing standards and we hope to be the place to come and trade anything you want to trade.
- Haas admitted, “That is not the case today. We are slow. We need to add more assets. We are making large investments to improve the speed of our wealth accumulation, but the market is clearly in favor. “
- The price of Dogecoin has risen dramatically in the past few months. Elon Musk, CEO of Tesla, drew attention to the meme cryptocurrency with his tweets and mentions on Saturday Night Live (SNL). During the SNL, Musk played a financial expert who called himself Dogefather and said the cryptocurrency was a buzz, but also “the future of the currency” that “will conquer the world”. Musk then conducted a Twitter poll on whether Tesla should accept Dogecoin. 78.2% of the respondents elected Yes.
- In March, Musk was asked on Twitter if Coinbase should list Dogecoin, as Coinbase was the company that helped Tesla purchase its $ 1.5 billion BTC at the time of purchase. The Tesla CEO replied, “Yes.”
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